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Seniors Tax Comparison of Canadian Dividends vs Other
Investment Income 2012 and 2011

The
calculations assume that the income is received by a single senior. The tax
rates used are as known on November 10, 2012.

The total income in each case
includes:

$6,000 of Old Age Security

$6,000 of Canada Pension Plan retirement income

$24,000 of pension income eligible for the pension
tax credit

plus either

$30,000 of Canadian dividends eligible for the
enhanced dividend tax credit, or

$30,000 of other income, which could be
interest, foreign dividends, pension income, or other income with
no special tax treatment.

Income
Type

Total
Income

Taxable
Income

Total Federal +
Provincial Income Taxes Payable in 2012

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

A. Cdn Eligible
Dividends

$66,000

$76,224

$8,380

$7,745

$11,949

$8,939

$9,526

$12,112

$5,817

$6,715

$9,694

$11,153

$13,412

$9,386

$6,759

B. Other Income

66,000

66,000

14,031

13,600

16,092

15,233

15,283

16,635

12,070

10,778

13,821

16,356

18,240

15,174

13,547

Notes:
- Clawback of OAS ($1,176) is included as taxes payable
- the clawback only occurs in the Canadian eligible dividends case
- BC includes MSP premiums payable for 2013 based
on 2012 income
- Ontario
- includes Ontario Health Premium
- QC includes health contribution, contribution to the
health services fund, and prescription drug insurance plan premiums

Income
Type

Total
Income

Taxable
Income

Total Federal +
Provincial Income Taxes Payable in 2011

AB

BC

MB

NB

NL

NS

NT

NU

ON

PE

QC

SK

YT

A. Cdn Eligible
Dividends

$66,000

$76,705

$8,343

$7,602

$10,691

$8,924

$9,545

$12,085

$5,789

$6,609

$9,743

$11,111

$13,470

$9,394

$6,731

B. Other Income

66,000

66,000

14,256

13,780

16,293

15,462

15,540

16,809

12,313

11,014

14,063

16,530

18,408

15,420

13,795

Notes:
- Clawback of OAS ($1,595) is included as taxes payable
- the clawback only occurs in the Canadian eligible dividends case
- BC includes MSP premiums payable for 2012 based
on 2011 income
- Ontario
- includes Ontario Health Premium
- QC includes health contribution, contribution to the
health services fund, and prescription drug insurance plan premiums